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In a BSE filing, the company also said that its wholly-owned subsidary Bloom Fountain Limited would acquire 38.68 per cent stake in Cairn India together with associated debt, effective from August 26. Sterlite Technologies came into existence in 2000. Sterlite Technologies Limited, formerly Sterlite Optical Technologies Limited (SOTL), was established in July 2001 after the demerger of the telecom division of Sterlite Industries Ltd (SIL). 3,361,195,780. PURPOSE. Sterlite Technologies will be demerging its power and telecom businesses in order to focus on each separately. NEW DELHI: As part of amalgamation, Vedanta Group firm Sesa Goa today said its merger of Sterlite Energy and demerger of aluminium business of Vedanta Aluminium into it have become effective. Since its inception in 1996, Sterlite Copper has steadily grown to become one of the leading contributors to copper production in India, contributing upto 40% of India’s demand for refined copper. By. Checkout the demerger of Sterlite Tech including details such as revised draft scheme of arrangement, pre & post shareholding patterns, and many other details. NO DEALINGS FROM. "The demerger scheme was earlier approved by the High Court of Mumbai on April 22, 2016, post approval by all relevant stakeholders of Sterlite Tech on December 15, 2015," Sterlite Technologies said . In fact, Sterlite is located around 6 km Northwest of Tuticorin town centre. Copyright © e-Eighteen.com Ltd All rights resderved. Sterlite withdraws scheme for demerger of its copper business ... Sterlite Industries had decided to hive off its copper business and its investments to a new company. We are focused on addressing complex challenges in the Power sector by tackling the key constraints of time, space and capital. vs Union of India And Ors. Vedanta group companies, controlled by NRI billionaire Anil Agarwal on Saturday announced the merger of its two listed companies Sterlite Industries … Its authorized share capital is Rs. Udaan in talks to raise $150-200 million from existing investors: Report, Buy Indraprastha Gas: target of Rs 585: Sharekhan, Reliance Jio case: High Court issues notice to Punjab, central governments, Indian Oil Corporation's jet fuel business has recovered by 60%: Sanjay Sahay, M-cap of BSE-listed companies zoom to record high of over Rs 191 lakh crore, Gujarat Gas share price rises as Nomura initiates coverage with a buy, Reliance goes nationalistic to fight vested interests, Large corporations should not become collateral damage in farm protests, No plans to enter contract farming, won't purchase any agricultural land, says Reliance Industries, Buy Jindal Steel and Power; target of Rs 375 : Motilal Oswal. Facebook. Trade Spotlight: What should investors do with Suzlon, Astral Poly & EID Parry? The only industries in the Northwest of town are located in SIPCOT, Milavittan, where Sterlite is located. →, Transforming Lives: Designing, building and managing smart cities →, A new approach to evaluate macro and microbending sensitivity of single mode optical fiber →, Sterlite Tech Launches ‘BSS of the Future’ for Rapid Digitalisation of CSPs →, Sterlite Tech Leads the Development of India’s First Smart City – Gandhinagar →, Sterlite Technologies bags Rs3,500 crore project from Indian Navy →, Plug & Play Smarter solution for FTTH deployment →, Certain percentage of GDP should be allocated for smart fibre infra: Sterlite Tech →, Has Sterlite Technologies Limited (NSE:STRTECH) Improved Earnings Growth In Recent Times? It enjoys a DATE & SETT. Etc. It was formed after the demerger of the telecom business from Sterlite Industries (India) with effect from July 1 2000 to enable sharper focus on each of the businesses. Managing Money | Rules of investing in various asset classes. The demerger scheme was earlier approved by the High Court of Mumbai on April 22, 2016 post approval by all relevant stakeholders of Sterlite Tech on December 15, 2015. Sterlite Industries Friday welcomed the National Green Tribunal's order allowing it to recommence operations of its copper smelting plant in Tuticorin district. It is classified as Non-govt company and is registered at Registrar of Companies, Chennai. Sterlite Technology today said it has completed demerger of its power business and will now focus on its telecom business. India Business News: Within a week after receiving final approval from the Goa bench of Bombay HC, Vedanta group firms, Sesa Goa and Sterlite Industries on Saturday announ Reproduction of news articles, photos, videos or any other content in whole or in part in any form Sterlite Optical Technologies Ltd, incorporated on 24 March 2co000 under the name of Sterlite Telecom Systems Ltd. NO. May 31, 2013, 20:37 PM IST Sterlite not to demerge copper business BS Corporate Bureau in Mumbai | September 17, 2003 08:28 IST The Anil Agarwal-controlled Sterlite Industries on Tuesday said it … CODE. 172@29@17@103!~!172@29@0@53!~!|news|!~!news|moneycontrol|com!~!|controller|news_index.php!~!is_mobile=false, Earnings, Markets, Stocks, Companies, Economy, Mergers & Acquisitions, Moneycontrol Research, Companies, Corporate Action, Mergers & Acquisitions, Markets, Companies, Mergers & Acquisitions, Policy, Coronavirus News LIVE Updates: Second dry run to take place on January 8 in all districts of the country, Nirav Modi's sister, brother-in-law turn approver in PNB scam case, Trouble for Congress in Bihar? After The Bell: Weak global cues halts bull run; what should investors do on Thursday? STL is the worlds leading data innovator. Print. Updates on merger of Elitecore Technologies into Sterlite … Moneycontrol offers you a choice of email alerts on your investments for FREE! The demerger will be effective from April 1, 2015, subject to all necessary approvals. The company has continually evolved and expanded its capabilities and capacities. Sterlite Power is a leading integrated power transmission developer and solutions provider globally in Power Sector. Sterlite Metals 4, Lehiri Building, 1st Floor, 5th Khetwadi Lane, Mumbai 400004 P: +91 8888333023 +9122 2389 2446 E: info@sterlitemetal.com Its major business segments are telecom and power. On 21 August 2000 the Company's name was changed from Sterlite Telecom Systems Ltd to Sterlite Optical Technologies Ltd. Sterlite Copper at A Glance Sterlite Copper represents a key aspect of Vedanta Limited’s Copper Business. In 2021, can the BJP juggernaut be stopped. “Today we have successfully completed demerger of … 5,000,000,000 and its paid up capital is Rs. 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As per Scheme of Arrangement sanctioned by … The de-merger will be effective Sterlite Technologies Ltd (Sterlite) is set to spin-off its power business into a separate unlisted company, while retaining its telecom business in the listed entity. The Scheme of Amalgamation: - Amalgamation of Sterlite Industries (India) Ltd. with Sesa Goa Ltd. "The demerger scheme was earlier approved by the High Court of Mumbai on April 22, 2016, post approval by all relevant stakeholders of Sterlite Tech on December 15, 2015," Sterlite Technologies said in a BSE filing. 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